Atkore International Group (NYSE:ATKR) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday, MarketBeat reports. They presently have a $22.00 price objective on the stock, down from their previous price objective of $44.00. Royal Bank of Canada’s target price suggests a potential downside of 1.35% from the company’s previous close.
Shares of ATKR traded up $1.84 during mid-day trading on Wednesday, reaching $22.30. The company’s stock had a trading volume of 949,661 shares, compared to its average volume of 455,003. Atkore International Group has a 1-year low of $10.85 and a 1-year high of $43.50. The stock has a market cap of $881.78 million, a P/E ratio of 7.41 and a beta of 1.69. The business has a 50-day simple moving average of $34.65 and a two-hundred day simple moving average of $36.39. The company has a current ratio of 2.61, a quick ratio of 1.74 and a debt-to-equity ratio of 3.11.
Atkore International Group (NYSE:ATKR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.16. The company had revenue of $447.45 million during the quarter, compared to analysts’ expectations of $463.80 million. Atkore International Group had a return on equity of 67.84% and a net margin of 7.68%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share.
In other Atkore International Group news, insider Peter J. Lariviere sold 1,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $37.74, for a total transaction of $37,740.00. Following the transaction, the insider now owns 109,213 shares in the company, valued at approximately $4,121,698.62. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Peter J. Lariviere sold 6,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $42.27, for a total value of $253,620.00. Following the transaction, the insider now owns 110,213 shares in the company, valued at approximately $4,658,703.51. The disclosure for this sale can be found here. 1.78% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of ATKR. State Street Corp increased its stake in Atkore International Group by 2.0% during the 3rd quarter. State Street Corp now owns 966,106 shares of the company’s stock worth $29,321,000 after acquiring an additional 19,287 shares during the period. California State Teachers Retirement System increased its stake in Atkore International Group by 2.4% during the 3rd quarter. California State Teachers Retirement System now owns 72,944 shares of the company’s stock worth $2,214,000 after acquiring an additional 1,731 shares during the period. Barclays PLC increased its stake in Atkore International Group by 53.3% during the 3rd quarter. Barclays PLC now owns 110,144 shares of the company’s stock worth $3,343,000 after acquiring an additional 38,318 shares during the period. Voloridge Investment Management LLC bought a new position in Atkore International Group during the 3rd quarter worth $780,000. Finally, Millennium Management LLC increased its stake in Atkore International Group by 70.0% during the 3rd quarter. Millennium Management LLC now owns 235,867 shares of the company’s stock worth $7,158,000 after acquiring an additional 97,105 shares during the period. Hedge funds and other institutional investors own 96.34% of the company’s stock.
About Atkore International Group
Atkore International Group Inc manufactures and distributes electrical raceway products, and mechanical products and solutions (MP&S) in the United States and internationally. The company offers electrical raceway products, including electrical conduits and fittings, armored cables and fittings, and cable trays and mounting systems and fittings.
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